Sagemark Consulting and American General Insurance sold husband and wife Nelson and Jeannie Choi insurance products promising large tax benefits. Instead, the Chois ended up with large tax penalties.
Unfortunately for the Chois, their legal claims were time barred. The statute of limits started running when they first became on notice of the potential of large penalties, not when the penalties were actually imposed.
Sponsored by: Ted Broomfield Law, a leading personal injury law firm in the San Francisco Bay Area.
Source: http://www.courts.ca.gov/opinions-slip.htm
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